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Below the Quote on Post market comment 23rd Oct 2025 by Amruta Shinde, Technical & Derivative Analyst, Choice Broking

On October 23, Indian equity markets closed on a positive note, though the session remained volatile throughout. At close, the Sensex was up 130.06 points or 0.15 percent at 84,556.40, while the Nifty gained 22.80 points or 0.09 percent to settle at 25,891.40. The BSE Midcap index slipped marginally, and the Smallcap index shed 0.4%.

The Nifty 50 opened with a gap-up of nearly 200 points, but experienced an intraday correction of about 240 points, eventually closing flat, reflecting a volatile session. The index is showing a sideways to bullish bias, holding above key supports at 25,700 and 25,750. Immediate resistance is seen at 25,950, with higher levels at 26,000 and 26,100. The overall outlook remains bullish as long as the index does not break decisively below 25,780. On the sectoral front, the IT index rose 2%, the Private Bank index gained 0.5%, while the Oil & Gas index declined 0.6%.

The Bank Nifty also reflected a volatile session, closing 70 points higher after gaining nearly 520 points intraday, indicating mixed momentum with bullish undertones. The index is expected to trade sideways to bullish, staying above key support levels at 57,700–57,900. Immediate resistance is placed at 58,200–58,400, keeping the trading range between 57,700 and 58,400. The bullish bias remains intact unless the index breaks below 57,830.

Meanwhile, the India VIX, a key gauge of market volatility, rose 3.85 percent to 11.73, reflecting heightened volatility despite ongoing uncertainty. In the derivatives segment, open interest (OI) data showed the highest call writing at the 26,000 strike, while the maximum put OI was concentrated at 25,850, indicating strong resistance around 26,000. Overall, market sentiment remains cautiously optimistic, and a decisive close above 26,000 will be crucial to revive bullish momentum and sustain the ongoing uptrend in the near term.

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